This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Apple Soars on Blowout Earnings: Live Blog Recap

CUPERTINO, Calif. ( TheStreet) -- Apple (AAPL - Get Report) reported exceptional second-quarter results after market close on Tuesday, boosted my massive iPhone sales, helping reverse the recent sell-off in the tech giant's stock.

The iPhone maker announced quarterly earnings of $12.30 a share on $39.2 billion in revenue. Analysts surveyed by Thomson Reuters expected earnings of $10.04 a share and revenue of $36.8 billion.

Apple CEO Tim Cook.

Despite rumors of an iPhone slowdown, Apple's smartphone business was robust. Apple, for example, enjoyed the second-highest iPhones sales in its history during the quarter, and its Asian iPhone business more than doubled.

Apple sold 35.1 million iPhones during the quarter, down slightly from 37.03 million in its first-quarter, but up a massive 88% compared to the same period last year

In addition to the 35.1 million iPhones, Apple also sold 11.8 million iPads, 4 million Macs and 7.7 million iPods.

Investors were confident that Apple would report another set of strong results, and the Cupertino, Calif.-based technology giant delivered.

Shares of Apple were down $16.07, or 2.81%, to $555.63 on Tuesday. Apple, however, is moving sharply higher in extended-hours trading, up 7.15% to $600.35.

-- Written by James Rogers and Chris Ciaccia in New York.

>To follow the writer on Twitter, go to http://twitter.com/jamesjrogers.

>To submit a news tip, send an email to: tips@thestreet.com.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $130.28 0.47%
FB $81.53 -1.07%
GOOG $565.06 3.30%
TSLA $218.42 -0.08%
YHOO $44.52 1.89%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs